London (HRNW) – Global oil prices recorded a decline on Friday, although both major crude oil benchmarks remain on track to post nearly a 20% monthly gain, reflecting continued volatility in international energy markets.
According to market reports, oil prices came under pressure as crude shipments through key maritime routes increased, despite the lack of significant progress in negotiations between Iran and the United States.
Brent crude fell by US$1.03, or approximately 1.2%, to US$88 per barrel.
Meanwhile, West Texas Intermediate (WTI) crude declined by US$1.50, or around 1.8%, to US$82.09 per barrel.
Despite the daily losses, both Brent and WTI futures remain on course to register approximately 20% gains for the month, driven by ongoing geopolitical tensions, supply concerns, and fluctuations in global energy demand.
Market analysts say future oil price movements will largely depend on developments in the Middle East, global demand trends, production levels, and the security of major international shipping routes.
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Important Note (Disclaimer)
This report is based on international energy market data and publicly available financial reports. Oil prices are subject to continuous fluctuations due to changing market conditions, geopolitical developments, and global supply and demand dynamics. Human Rights News Worldwide (HRNW) remains committed to impartial, accurate, and fact-based journalism.
